NEW YORK, July 15, 2015 /PRNewswire/ -- LiveDeal Inc. (NASDAQ: LIVE) a provider of specialized online marketing solutions, recently announced the acquisition of Georgia-based Marquis Industries, Inc., a specialty, high-performance carpet yarn manufacturer, hard-surfaces re-seller, and top 10 high-end residential carpet manufacturer in the United States. Management believes the acquisition will make LiveDeal immediately profitable. In 2014, Marquis's sales reached $60M (unaudited), and it is experiencing a record year in 2015 with nearly an $8m in TTM (trailing 12 months) EBIDTA, based on third-party advisory accounting estimates. The acquisition adds about $35m in assets to LiveDeal's balance sheet, including the latest technology machinery and equipment, and seven parcels of developed real property, totaling nearly 500,000 square feet of state-of-the-art manufacturing and industrial facilities. The company's CEO expects LiveDeal to generate close to $100m in revenue on an annual, consolidated basis and add around $8m in EBITDA to the bottom line as a result of the acquisition.
LiveDeal Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal operates a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling businesses to communicate real-time and instant offers to nearby consumers. In November 2012, LiveDeal commenced the sale of marketing tools that help local businesses manage their online presence under the Company's Velocity Local™ brand. LiveDeal continues to actively develop, revise, and evaluate these products and services and its marketing strategies and procedures.
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